Bitcoin businesses want to stop talking about the creator, thank you very much

Bitcoin has survived the collapse of one of its largest exchanges, public associations with the seedy underbelly of Silk Road and severe price fluctuations that would make the most seasoned Wall Street trader's head explode.

Now some of Bitcoin business leaders and investors believe it is on the cusp of surviving another difficult obstacle as old as the digital currency itself: The strange mystery of the man who made it.

On Monday morning, an Australian businessman named Craig Wright claimed to be Satoshi Nakamoto, the secretive individual credited with creating Bitcoin in 2008 before going dark for years as the currency grew in prominence and value.

Within hours of Wright's surprise announcement, members of the media and various bitcoin loyalists raised doubts about the claim. But Bitcoin startup founders held out hope it would lay the question to rest once and for all — or at the very least remind us that the answer doesn't even matter at this point.

"For many people, the fact that the creation was shrouded in mystery made them not trust the technology, and with something that deals with value, I think that is a real issue," said Jeremy Allaire, founder and CEO of Circle, a startup that has raised $76 million to bring bitcoin payments to the mainstream.

The first years of Bitcoin's existence saw questionable entrepreneurs bootstrap questionable businesses with questionable security. They hoped to capitalize early on this new currency kickstarted by the mysterious Satoshi, intended to revolutionize banking but instead often used for illicit purposes like buying drugs.

After the price of bitcoin soared in early 2013, more established investors and founders like Allaire began entering the market with the goal of creating a truly legitimate form of payment for businesses and consumers.

Little by little, the messy early days of Bitcoin were cleaned up. The founders of earlier services flamed out or were arrested, as was the case with Mt. Gox and BitInstant. Silk Road, the online drug marketplace fueled in part by Bitcoin, was shut down.

But the mystery of its creation dragged on. Every few months, media outlets would speculate on the real Satoshi — as when Newsweek re-launched with its now infamous cover story claiming the real Satoshi Nakamoto was in fact a recluse with financial problems named Satoshi Nakamoto.

Wright's name was first added to the list of possible Satoshis late last year. His confirmation of that rumor on Monday was quickly met with relief by venture capitalists like Brian Hirsch, managing partner with Tribeca Venture Partners, who has invested in the Bitcoin startup market.

"It's great that Craig has stepped forward to put to rest the story of the birth of bitcoin," Hirsch said.

As the day went on, however, numerous skeptics argued Wright failed to provide definitive proof — moving his massive personal stash of bitcoins around, for example.

By Monday afternoon, with no sign of the debate ending, Bitcoin business leaders leaned on a different, familiar talking point: It really just doesn't matter who the creator is anymore.

Enough is enough.

"The identity is no longer relevant. Bitcoin is in the public domain and everything we need to know about bitcoin is widely available," says Gene Kavner, a former Microsoft exec and founder of a new Bitcoin wallet service called iPayYou.

"I have a T-Shirt that says 'I am Satoshi.' Does that mean I am Satoshi?" says Adam Draper, managing director of Boost VC, which has backed Bitcoin startups. "Actually it shows the true strength of Bitcoin that the creator of it has no impact on the market unless he sells all his Bitcoin at once."

At least one person appears willing to heed the call to stop talking about the creator of Bitcoin: self-professed creator of Bitcoin, Craig Wright. In one interview published Monday, he said: "I will never, ever, be on a camera ever again, for any station, or any media, ever."

Mashable
is a global, multi-platform media and entertainment company. Powered by its own proprietary technology, Mashable is the go-to source for tech, digital culture and entertainment content for its dedicated and influential audience around the globe.